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Stimulus package hits speed bump
Senate Majority Leader Mitch McConnell, R-Ky., blasted Democrats for
opposing the GOP-crafted rescue package and scheduled another vote Monday, saying he hoped they would have a “change of heart” after the U.S. financial markets opened Monday morning. The GOP plan, estimated at $1.4 trillion, includes
$1,200 checks for most Americans, plus more money for businesses. In all, the stimulus could total $2 trillion. Senate Minority Leader Charles Schumer, however, said the bill failed to provide funds that hospitals, cities, states and medical workers need to combat the crisis.
Democrats say McConnell is trying to jam through a bill that would give big corporations a bailout with too few strings attached. They fear that CEOs would take taxpayer funds and then enrich themselves with stock buybacks and executive pay hikes once the panic has passed.
“The legislation had many, many problems. At the top of the list, it included a large corporate bailout provision, with no protections for workers and virtually no oversight,” Senate Minority Leader Charles Schumer said earlier Sunday. “It also significantly cut back on the money our hospitals, our cities, our states, our medical workers and so many others needed during this crisis."
COVID-19 updates: Senate at odds over makeup of coronavirus stimulus